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HDFC Bank plunges 8%, Asian Paints Q3 revenue misses estimates & more

NIFTY50: 21,571 ▼ 460 (-2.0%)
SENSEX: 71,500 ▼ 1,628 (-2.2%)


Among the NIFTY sectoral indices, Metal (+0.9%) and Oil & Gas (+0.3%) were the top gainers, while Bank (-4.2%) and Financial Services (-4.2%) were the top losers.

What's Up

Top gainers Today's change
Apollo Hospitals 5,980 ▲ 75 (+1.2%)
HCL Tech 1,572 ▲ 17 (+1.1%)
Tech Mahindra
1,333 ▲ 12 (+0.9%)

What's Down

Top losers Today's change
HDFC Bank
1,542 ▼ 137 (-8.1%)
Tata Steel 131 ▼ 5.4 (-3.9%)
Kotak Bank 1,778 ▼ 69 (-3.7%)

Market Sentiment

USD-INR 83.14 ▲ 0.07 (+0.08%)
NIFTY MIDCAP 100 47,151 ▼ 515 (-1.0%)
NIFTY SMALLCAP 100 15,348 ▼ 186 (-1.2%)
India VIX 15 ▲ 1.5 (+11.1%)

Stock Buzz


⭐ HDFC Bank plunges 8% post result

Shares of HDFC Bank declined over 8% today. This after the company reported net interest income (NII) below street estimates in Q3 FY24. As per experts, fall in net interest margin for the second consecutive quarter has hit HDFC Bank’s shares today. Notably, the bank's margins were above 4% before it merged with its parent HDFC Ltd in July 2023.

⭐ Asian Paints Q3 revenue misses estimates

Asian Paints reported a 34.5% year-on-year (YoY) surge in its net profit to ₹1,475 crore. The company reported consolidated net sales of ₹9,075 crore, up by 5.4% YoY. The company’s revenue missed market estimates, although net profit was in line with estimates. Meanwhile, shares of the paint giant closed 1.4% lower after the result announcement.

⭐ Larsen & Toubro bags new orders

Shares of the construction company hit a 52-week high of ₹3,614 per share intraday, before closing 0.04% higher today. This was after the company’s buildings & factories division secured orders in the range of ₹1,000 to ₹2,500 crore. The company has received repeat orders from the Government of Maharashtra for a housing project in Navi Mumbai. Additionally, L&T has been awarded a project to construct a 3-star hotel in Oman.

⭐ PTC Industries jumps on pact with Dassault Aviation

Shares of the metal components manufacturer closed 0.9% higher today. This was after its subsidiary Aerolloy Technologies signed an agreement with France-based Dassault Aviation for supplying titanium casting parts. It will produce the full range of titanium casting parts for the Rafale multirole fighter aircraft and the Falcon business jet programme.


IPO Corner

The Medi Assist Healthcare IPO received an overall subscription of 16.2 times on the last day of the bidding, with the retail segment being subscribed 3.1 times. The tentative listing date is 22 January 2024.


Learn with Upstox

What is net interest income?

Net interest income (NII) is the difference between a bank or financial institution's interest earned from loans and investments and the interest paid on deposits and borrowings. It is a key indicator of a lender’s profitability, reflecting its ability to generate revenue from core lending and investment activities after covering interest expenses.


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